1
00:00:00,080 --> 00:00:03,280
Speaker 1: Now we know that atg down Under, a coach tour

2
00:00:03,320 --> 00:00:06,800
Speaker 1: operator in Alice Springs has notified stakeholders have plans to

3
00:00:06,880 --> 00:00:10,879
Speaker 1: wind down operations in town with massive flow on effects

4
00:00:10,880 --> 00:00:13,680
Speaker 1: for the community. Now we've reached out and invited them

5
00:00:13,680 --> 00:00:15,320
Speaker 1: on the show, but they were not in a position

6
00:00:15,400 --> 00:00:19,160
Speaker 1: to talk about about the situation further on the show.

7
00:00:19,560 --> 00:00:23,000
Speaker 1: It is my understanding that they did speak to ABC

8
00:00:23,320 --> 00:00:27,000
Speaker 1: in Alice Springs and have said or they certainly gave

9
00:00:27,000 --> 00:00:29,360
Speaker 1: a statement I should say to ABC and Alice Springs

10
00:00:29,400 --> 00:00:32,640
Speaker 1: this morning and they did well. They did link that

11
00:00:32,720 --> 00:00:37,519
Speaker 1: decision to the Quantus decision and also said that you

12
00:00:37,560 --> 00:00:41,400
Speaker 1: know that the situation with crime has been another contributing factor.

13
00:00:42,159 --> 00:00:45,280
Speaker 1: It is another blow for the crime stricken town after

14
00:00:45,280 --> 00:00:48,640
Speaker 1: Tourism Central Australia CEO Daniel Rochford had revealed on the

15
00:00:48,640 --> 00:00:51,800
Speaker 1: show earlier this week that Quantus plans to cut thirty

16
00:00:51,920 --> 00:00:55,880
Speaker 1: thousand seats from the region. Now, one major player in

17
00:00:55,920 --> 00:00:58,400
Speaker 1: Alice Springs who is concerned about the lack of competition

18
00:00:58,600 --> 00:01:00,720
Speaker 1: in the town and what it meant needs for the

19
00:01:00,760 --> 00:01:05,119
Speaker 1: future of tourism, particularly when it comes to conferences, meetings

20
00:01:05,200 --> 00:01:08,399
Speaker 1: and events, is Iris Capital and joining me on the

21
00:01:08,440 --> 00:01:12,440
Speaker 1: line right now is their chief operating officer, Craig Jarvis.

22
00:01:12,480 --> 00:01:13,280
Speaker 1: Good morning to you.

23
00:01:13,240 --> 00:01:15,520
Speaker 2: Craig, Morning Canty. How are you?

24
00:01:15,640 --> 00:01:17,760
Speaker 1: Yeah, really good. Thank you so much for taking the

25
00:01:17,760 --> 00:01:20,320
Speaker 1: time to have a chat with us this morning. Craig,

26
00:01:20,640 --> 00:01:24,679
Speaker 1: what impact firstly, will the loss of flights to Alice

27
00:01:24,680 --> 00:01:27,400
Speaker 1: Springs have when it comes to your operations?

28
00:01:28,560 --> 00:01:31,839
Speaker 2: Well, certainly kicking the guards from a tourism perpectively across

29
00:01:32,440 --> 00:01:36,840
Speaker 2: across the board, you know, just having less available flights

30
00:01:36,880 --> 00:01:40,679
Speaker 2: coming in and being charged at a premium certainly, you know,

31
00:01:40,760 --> 00:01:44,280
Speaker 2: takes us off the They must do lists for a

32
00:01:44,280 --> 00:01:46,040
Speaker 2: lot of people from a you know, just a general

33
00:01:46,280 --> 00:01:49,720
Speaker 2: traveling tourist, not to mention the biggest things like the

34
00:01:49,760 --> 00:01:53,880
Speaker 2: conference and you you alluded to there. Not being having

35
00:01:53,880 --> 00:01:57,640
Speaker 2: available flights and being competitive certainly takes you off the mark.

36
00:01:57,680 --> 00:02:00,800
Speaker 2: When you're dealing with people at the professional comp and organizers,

37
00:02:00,800 --> 00:02:02,920
Speaker 2: they won't even put us on a list to start

38
00:02:02,960 --> 00:02:06,240
Speaker 2: to look if getting their access is too challenging.

39
00:02:06,440 --> 00:02:10,040
Speaker 1: Yeah, right, So realistically, if it's if it's difficult to

40
00:02:10,080 --> 00:02:12,480
Speaker 1: get there in terms of not being able to access flights,

41
00:02:12,480 --> 00:02:15,120
Speaker 1: but then I'm assuming as well, Craig, if those flights

42
00:02:15,120 --> 00:02:17,800
Speaker 1: are really expensive that that would have a huge impact

43
00:02:17,800 --> 00:02:20,560
Speaker 1: when you're trying to lure hundreds of people for a conference.

44
00:02:21,560 --> 00:02:24,040
Speaker 2: Oh absolutely, and that becomes a bit of a no no.

45
00:02:24,200 --> 00:02:25,880
Speaker 2: And then there's a lot of other competition in that

46
00:02:25,960 --> 00:02:33,040
Speaker 2: space throughout Australia and certainly it impacts you know us

47
00:02:33,440 --> 00:02:35,560
Speaker 2: from the get go from a bidding perspective, we're not

48
00:02:35,600 --> 00:02:37,080
Speaker 2: even able to show you know, what was not as

49
00:02:37,240 --> 00:02:40,119
Speaker 2: an offering or a product. We don't get that down

50
00:02:40,160 --> 00:02:43,400
Speaker 2: the list. So disappointing, I suppose from a quantitus perspective,

51
00:02:43,400 --> 00:02:46,640
Speaker 2: it's a business decision. I think from my perspective, it

52
00:02:46,720 --> 00:02:50,680
Speaker 2: certainly highlights the need for you know, competitors in that

53
00:02:50,760 --> 00:02:55,360
Speaker 2: space to bring down flights, not being held held to

54
00:02:56,080 --> 00:02:58,880
Speaker 2: a hostage by by one carrier. Yeah.

55
00:02:58,960 --> 00:03:02,200
Speaker 1: Well, we've spoken so the Tourism Minister earlier this morning

56
00:03:02,280 --> 00:03:05,160
Speaker 1: Nicole Madison, and did put to her, you know, whether

57
00:03:05,240 --> 00:03:07,560
Speaker 1: she had had those face to face meetings with the

58
00:03:07,639 --> 00:03:11,160
Speaker 1: likes of Bonza or even Rex. At this point she

59
00:03:11,280 --> 00:03:14,799
Speaker 1: said that the bureaucrats within the department have met with them.

60
00:03:14,880 --> 00:03:16,680
Speaker 1: But do you think that that's enough, I mean, do

61
00:03:16,720 --> 00:03:18,560
Speaker 1: you think that the minister needs to sit down face

62
00:03:18,600 --> 00:03:20,680
Speaker 1: to face with them and sort of try to get

63
00:03:21,000 --> 00:03:25,760
Speaker 1: some more operators into the territory, specifically Central Australia.

64
00:03:26,000 --> 00:03:29,920
Speaker 2: I think certainly this at this point, now we're at Wedby,

65
00:03:30,320 --> 00:03:33,040
Speaker 2: we're looking at meeting with the minister, we're ranging a

66
00:03:33,120 --> 00:03:36,080
Speaker 2: time at the moment to certainly say I think she

67
00:03:36,120 --> 00:03:38,960
Speaker 2: does need to take a lead in this now this

68
00:03:39,000 --> 00:03:42,320
Speaker 2: conversation and make sure that we do get some competitors

69
00:03:42,320 --> 00:03:45,040
Speaker 2: in this space. You mentioned earlier to be some challenges

70
00:03:45,080 --> 00:03:48,520
Speaker 2: and Alice, we're ready to move on and move away

71
00:03:48,560 --> 00:03:50,920
Speaker 2: from from those. I think some of those are being

72
00:03:50,920 --> 00:03:53,680
Speaker 2: put behind us, you know, but things like this certainly

73
00:03:53,720 --> 00:03:57,520
Speaker 2: don't help the future. Being able to attract and retain

74
00:03:57,680 --> 00:04:00,560
Speaker 2: staff is important in Alice. You know, it's always challenge.

75
00:04:00,840 --> 00:04:02,440
Speaker 2: You know, you need to be able to have people

76
00:04:02,480 --> 00:04:04,840
Speaker 2: to be able to come and go, you know, from

77
00:04:04,880 --> 00:04:06,920
Speaker 2: a remote town and it helps people, you know, the

78
00:04:06,920 --> 00:04:09,640
Speaker 2: longevity of people when they hear if they can zip

79
00:04:09,680 --> 00:04:12,240
Speaker 2: off to the big city to do their shopping and

80
00:04:12,720 --> 00:04:14,280
Speaker 2: do a bit of go to the football games and

81
00:04:14,320 --> 00:04:19,200
Speaker 2: the concerts and things. So liveability is certainly something here

82
00:04:19,240 --> 00:04:20,560
Speaker 2: that it's really key.

83
00:04:20,920 --> 00:04:26,160
Speaker 1: Yeah, Craig Will, how will iris capital be impacted in

84
00:04:26,200 --> 00:04:29,920
Speaker 1: any way as well buy that news that atg down

85
00:04:30,000 --> 00:04:32,880
Speaker 1: Under have decided to wind down in Alice Springs.

86
00:04:34,400 --> 00:04:37,320
Speaker 2: Well, look again, it's when we're talking about competitors unfortunate.

87
00:04:37,360 --> 00:04:39,560
Speaker 2: It's another you know, it's the competitor gone in that

88
00:04:40,120 --> 00:04:43,680
Speaker 2: the bus space, so certainly disappointing. I'm not aware of

89
00:04:43,680 --> 00:04:48,240
Speaker 2: the full details of their winding up. I've only heard

90
00:04:48,240 --> 00:04:49,560
Speaker 2: what you know, I've heard on the radio and what

91
00:04:49,600 --> 00:04:52,159
Speaker 2: you've said there before. I haven't had any other information.

92
00:04:53,120 --> 00:04:55,480
Speaker 2: But it's certainly around investor confidence. There's a lot of

93
00:04:55,480 --> 00:04:59,320
Speaker 2: big investors, you know, discoveries as IRIS capital planning on

94
00:04:59,400 --> 00:05:01,640
Speaker 2: doing a lot of work and having done a lot

95
00:05:01,640 --> 00:05:05,960
Speaker 2: of works, it's certainly disheartening when you are looking in

96
00:05:06,040 --> 00:05:11,560
Speaker 2: return on investment from your investment, when you're going downhill.

97
00:05:11,600 --> 00:05:14,279
Speaker 2: I mean, we're trying to aim up and a very

98
00:05:14,320 --> 00:05:17,719
Speaker 2: positive about the National Aboriginal Art Gallery here, which was

99
00:05:17,760 --> 00:05:20,560
Speaker 2: planning to bring fifty six hours and extra visitors a

100
00:05:20,640 --> 00:05:24,680
Speaker 2: year through to the center. That was part of our

101
00:05:25,279 --> 00:05:27,880
Speaker 2: you know, gearing up. Our investment from IRIS is really

102
00:05:27,960 --> 00:05:32,120
Speaker 2: capitalizing there. But we're going backwards in capacity and those

103
00:05:32,120 --> 00:05:35,360
Speaker 2: sort of numbers are running it odds within each.

104
00:05:35,279 --> 00:05:38,440
Speaker 1: Other Craig, just talk me through that. You know, when

105
00:05:38,520 --> 00:05:42,040
Speaker 1: you are looking at at the capacity changing in terms

106
00:05:42,040 --> 00:05:45,680
Speaker 1: of the flights and quantas winding back, but also with

107
00:05:45,760 --> 00:05:49,000
Speaker 1: things like the art gallery, does that I mean what

108
00:05:50,000 --> 00:05:53,440
Speaker 1: does that do for IRIS capital in terms of that

109
00:05:53,680 --> 00:05:57,080
Speaker 1: confidence with what is going on in Central Australia and

110
00:05:57,960 --> 00:05:59,600
Speaker 1: you know, the way in which the governments sort of

111
00:05:59,640 --> 00:06:03,320
Speaker 1: delivering on what they have promised, well we.

112
00:06:03,360 --> 00:06:07,120
Speaker 2: Could certainly you know, brings you back to the board

113
00:06:07,120 --> 00:06:09,000
Speaker 2: table and to it and you know it's looking at

114
00:06:09,000 --> 00:06:10,880
Speaker 2: your numbers. You know, a lot of what we're doing

115
00:06:10,880 --> 00:06:13,840
Speaker 2: here will be funded. So obviously there's investors that need

116
00:06:13,880 --> 00:06:17,080
Speaker 2: to be you know, primarily banks that need to be

117
00:06:17,120 --> 00:06:19,719
Speaker 2: comfortable with those decisions as well. So it's not just

118
00:06:19,839 --> 00:06:23,719
Speaker 2: keeping you know, the investors themselves, but also their stakeholders

119
00:06:23,760 --> 00:06:26,400
Speaker 2: and partners, you know, being the banks, they need to

120
00:06:26,400 --> 00:06:29,520
Speaker 2: be comfortable with what's happening as well. But if they're

121
00:06:29,520 --> 00:06:33,640
Speaker 2: seeing one you know, I think going backwards, it's not

122
00:06:33,680 --> 00:06:36,800
Speaker 2: necessarily a positive sign that they want to see. So

123
00:06:37,040 --> 00:06:39,640
Speaker 2: you know, certainly from our perspective, looking at numbers and

124
00:06:40,480 --> 00:06:41,960
Speaker 2: you know, what are we going to get if we're

125
00:06:42,000 --> 00:06:45,040
Speaker 2: going to build an extra four hundred hotel rooms. Is

126
00:06:45,600 --> 00:06:47,400
Speaker 2: they're going to be in a capacity to fill those

127
00:06:47,440 --> 00:06:50,200
Speaker 2: and they're the sorts of discussions we need to have

128
00:06:50,279 --> 00:06:53,960
Speaker 2: and you know, not just a light into the center.

129
00:06:54,960 --> 00:06:57,000
Speaker 2: You know, we need to have some some redundancy there.

130
00:06:57,160 --> 00:06:58,760
Speaker 1: Yeah, well, this is the thing there's got to be

131
00:06:58,839 --> 00:07:04,240
Speaker 1: returned for your investment. Craig is IRA's capital reconsidering some

132
00:07:04,320 --> 00:07:07,800
Speaker 1: of the company's investments at this point or where are

133
00:07:07,800 --> 00:07:08,239
Speaker 1: you asked?

134
00:07:08,920 --> 00:07:11,360
Speaker 2: We're still working through the process on all of the investments,

135
00:07:11,360 --> 00:07:15,800
Speaker 2: all the properties we've got. We've got improvement plans in place.

136
00:07:16,160 --> 00:07:18,080
Speaker 2: You know, none of those have got firm deadlines on

137
00:07:18,120 --> 00:07:22,200
Speaker 2: them at this stage, so we're still working through those four.

138
00:07:22,280 --> 00:07:24,520
Speaker 2: But you know, this sort of thing brings you know,

139
00:07:25,560 --> 00:07:27,800
Speaker 2: you know, other elements to the table when you're when

140
00:07:27,840 --> 00:07:29,520
Speaker 2: you're considering these you know, are we going to do

141
00:07:29,560 --> 00:07:33,600
Speaker 2: the you know, the high end of the development or

142
00:07:33,720 --> 00:07:35,200
Speaker 2: is it going to be something a bit more migrat

143
00:07:35,280 --> 00:07:37,560
Speaker 2: If I don't I don't know, I can't make that comment,

144
00:07:37,840 --> 00:07:41,320
Speaker 2: but it is certainly something that you know, it's been

145
00:07:41,400 --> 00:07:45,800
Speaker 2: croning to mixed an amount of surprise this week. As

146
00:07:45,840 --> 00:07:48,360
Speaker 2: I said, we've sort of felt the forward bookings and

147
00:07:48,400 --> 00:07:52,160
Speaker 2: things were very strong and heading into a good tourist season.

148
00:07:53,400 --> 00:07:55,200
Speaker 1: Do you still feel that way? I mean, do you

149
00:07:55,240 --> 00:07:57,560
Speaker 1: still feel as those things are looking strong as you're

150
00:07:57,560 --> 00:08:00,600
Speaker 1: heading to the tourist season. How are you eyes feeling

151
00:08:00,640 --> 00:08:01,280
Speaker 1: at this point?

152
00:08:02,320 --> 00:08:06,240
Speaker 2: I think our venues specifically are probably looking pretty reasonable.

153
00:08:06,920 --> 00:08:10,640
Speaker 2: Alice always sold around our key events like our you

154
00:08:10,680 --> 00:08:14,720
Speaker 2: know Patmers and Reds and Nuts and think cap Carnival.

155
00:08:14,760 --> 00:08:17,360
Speaker 2: All of those book bookings are strong, but you know,

156
00:08:17,360 --> 00:08:19,520
Speaker 2: we're just hoping that those flights and we still line

157
00:08:19,560 --> 00:08:21,920
Speaker 2: up for everyone that they can actually get get here

158
00:08:21,960 --> 00:08:23,960
Speaker 2: as well. So a lot of them were book accommodation

159
00:08:24,040 --> 00:08:27,120
Speaker 2: but might not have booked flights at this point. So yeah,

160
00:08:27,160 --> 00:08:30,200
Speaker 2: we'll we'll wait and see the impact of the business

161
00:08:31,680 --> 00:08:32,600
Speaker 2: in the future here.

162
00:08:32,800 --> 00:08:34,640
Speaker 1: Yeah, Craig, before I let you go, I know that

163
00:08:34,720 --> 00:08:37,000
Speaker 1: you said that that you know, the town is certainly

164
00:08:37,000 --> 00:08:39,720
Speaker 1: trying to push forward after what has been a pretty

165
00:08:39,840 --> 00:08:43,760
Speaker 1: tough time around that crime crisis. From your perspective of

166
00:08:43,880 --> 00:08:45,240
Speaker 1: things calm down a little bit.

167
00:08:46,640 --> 00:08:49,440
Speaker 2: I believe they hadn't yet. I think there's been a

168
00:08:49,440 --> 00:08:51,680
Speaker 2: lot of attention obviously, you know, at the national level

169
00:08:51,720 --> 00:08:54,400
Speaker 2: and all levels of government and I think you know,

170
00:08:54,480 --> 00:08:57,120
Speaker 2: with spotlights on it comes from a lot of agencies

171
00:08:57,120 --> 00:08:59,040
Speaker 2: seem to be doing and you know, all the things

172
00:08:59,040 --> 00:09:01,360
Speaker 2: they're funder tude to the their ability. And I certainly

173
00:09:01,400 --> 00:09:05,199
Speaker 2: have our venues to speak for everyone, but turning in

174
00:09:05,280 --> 00:09:07,920
Speaker 2: our venues tent and truths.

175
00:09:08,840 --> 00:09:11,960
Speaker 1: Well, Craig Jarvis, we really appreciate you having a chat

176
00:09:11,960 --> 00:09:16,360
Speaker 1: with us this morning. The chief operating officer with IRIS Capital,

177
00:09:16,440 --> 00:09:18,240
Speaker 1: thank you so much for coming on the show.

178
00:09:20,120 --> 00:09:21,040
Speaker 2: Dowie, thanks so much.

179
00:09:21,320 --> 00:09:21,920
Speaker 1: Thank you